Tony Novak 800-609-0683
a passionate advocate for small business success
Ten tips for writing a strong business plan
by Tony Novak, CPA, MBA, MT
, revised 11/29/2011
1. Write It yourself. You will learn far more than if you use a professional
writer or a canned template.
2. Break it down. Writing a whole business plan can be an overwhelming task but
doing a small part is far more manageable. It will come together step-by-step .
3. Use fewer words. Outline format or bullet points are fine. Avoid long
passages of text. Most business plans wind up being in excess of 20 pages
anyway.
4. Get input. Get advice, feedback and comparisons from friends, advisers, and
colleagues.
5. Discuss demand. Consider the size of your market. If you are proposing a new
product or service, prove that the demand exists.
6. Discuss supply. List and describe your competitors.
7. Emphasize differences. Highlight the distinctions that make you different
from your competitors. Be fair about your disadvantages.
8. Emphasize the marketing plan. This should be the most developed portion of
your business plan.
9. Edit for consistency. Make sure the same numbers used in the text are
reflected in the financial statements.
10. Update it often. Realize you plan will change before the ink dries, so keep
a copy on your desk to be used for mark-ups and frequent revisions. Change is
good.
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Opinions expressed are the solely those of the author and do not represent the position of any other person, company or entity mentioned in the article. Information is from sources believed to be reliable but cannot be guaranteed. Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues or a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. Tony Novak operates as an independent adviser under the trademarks "Freedom Benefits", "OnlineAdviser" and "OnlineNavigator" but is not a representative, agent, broker, producer or navigator for any securities broker dealer firm, federal or state health insurance marketplace or qualified health plan carrier. He has no financial position in any stocks mentioned. Novak does work as an accountant, agent, adviser, writer, consultant, marketer, reviewer, endorser, producer, lead generator or referrer to other companies including the companies listed in the articles on this web site.
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